Lexpert®Ranked Lawyers
14 | Energy Deals
Desbarats, QC,
Robert P.
Osler, Hoskin &
Harcourt LLP
(403) 260-7015
rdesbarats@osler.com
Mr. Desbarats's
practice involves all
commercial aspects
of the conventional
oil and gas, oil sands
and liquefi ed natural
gas businesses,
including acquisitions
and divestitures, joint
ventures and other
transactions.
DeRose, Vincent J.
Borden Ladner
Gervais LLP
(613) 787-3589
vderose@blg.com
Mr. DeRose is the
regional leader of the
Energy Markets Group
and the Oil and Gas
Group in BLG's Ottawa
office. He represents
clients on natural
gas and electricity
regulatory matters
before the Ontario
Energy Board and the
National Energy Board.
Dobbin, Terence S.
Norton Rose Fulbright
Canada LLP
(416) 216-3935
terence.dobbin@
nortonrosefulbright.
com
Mr. Dobbin is
recognized in all
directories as a leading
M&A and corporate
lawyer. He has
signifi cant experience
with large cross-border
transactions (in energy
and other sectors), and
advising directors on a
variety of governance
issues.
Drance, Jonathan S.
Stikeman Elliott LLP
(604) 631-1361
jdrance@stikeman.
com
Mr. Drance practises
in corporate fi nance
and securities with
a focus on M&A,
public fi nancings and
reorganizations. He
has acted for Canfor,
Bentall, Terasen, Duke
Energy and more. He
writes extensively on
corporate governance
and fi duciary duties.
Dorion, QC,
AdE, Marc
McCarthy Tétrault LLP
(418) 521-3007
mdorion@mccarthy.ca
Mr. Dorion co-
heads the fi rm's
Project Group. He
provides strategic
advice to various
interveners in relation
to development,
fi nancing, construction
and operations of
energy projects. He
has considerable
experience in project
fi nance and
public affairs.
Droppo, QC,
Dallas L.
Blake, Cassels &
Graydon LLP
(403) 260-9612
dallas.droppo@
blakes.com
A former geologist,
Mr. Droppo acts on
securities transactions
and signifi cant foreign
and domestic resource-
related acquisitions;
and for oil and gas,
pipeline and mining
companies in joint
ventures regarding
major greenfi eld and
expansion projects.
investments that don't off end the new rules.
"Only the government knows why they focused on the oil
sands" or whether the ban will be extended to LNGs in the fu-
ture. He speculates that the oil sands may be seen by the federal
government as a strategic resource in a way that LNG is not.
He says he agrees with analysts who say Canada's capital
markets are too small to fund vast energy investment oppor-
tunities. Multinational oil companies who've been in Cana-
da for decades may, indeed, have all the exposure they want
to the Canadian energy sector, but Deyholos says privately
owned energy companies in countries such as Japan and In-
dia are showing interest, as are foreign private-equity inves-
tors, such as Kohlberg Kravis Roberts of New York, which
recently opened a Calgary offi ce.
Experts say the 2014 M&A rebound is being driven by
increasing rail shipments that have reduced discounts on Ca-
nadian heavy oil; increased private-equity infusions; more
domestic deal making in the absence of competition from
big-spending SOEs; political instabilities in Eastern Europe
and Iraq that have bolstered long-term oil-price expecta-
tions; and a cold winter in North America that burned off
stored gas and enabled a modest price increase.
" ere's positive M&A and there's negative M&A," ob-
serves Sptiznagel. In the current rebound, he says, gas prices
have risen just enough to encourage a few large players to sell
"We need to provide clarity
and certainty on what
the rules are or we risk
being uncompetitive."
– JANICE BUCKINGHAM, OSLER, HOSKIN & HARCOURT LLP
PHOTO:
SHUTTERSTOCK
